Loan Types
Should I choose an FHA or a conventional loan?
Context
FHA and conventional are the two most common loan types, and the right pick depends on your financial profile.
The short answer
FHA often works better for lower credit scores or smaller down payments, but it carries mortgage insurance premiums that can last the life of the loan. Conventional usually costs less over time if your credit and down payment are strong, and its PMI can be removed.
Things to keep in mind
The right answer depends on your numbers, not a one-size-fits-all rule.
Next step
DMF runs both side by side — contact us to compare FHA and conventional for your file.
Have a question about your own situation?
DMF serves Minnesota homebuyers and homeowners by shopping your purchase or refinance file across multiple wholesale lenders — not a single bank's product menu.
Davis Monroe Financial, LLC is a mortgage broker, not a lender. We do not make credit decisions or fund loans. Rate locks are issued by the lender; we submit and manage lock requests on your behalf. All loans are subject to credit approval. Rates and terms are subject to change without notice.